In the United States a unified budget is a federal government budget in which receipts and outlays from federal funds and the Social Security Trust Fund are consolidated. The change to a unified budget resulted in a single measure of the fiscal status of the government, based on the sum of all government activity. When these fund groups are consolidated to display budget totals, transactions that are outlays of one fund group (i.e., interfund transactions) are deducted to avoid double counting.
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Famous quotes containing the words unified and/or budget:
“Under weak government, in a wide, thinly populated country, in the struggle against the raw natural environment and with the free play of economic forces, unified social groups become the transmitters of culture.”
—Johan Huizinga (1872–1945)
“You can fool all the people all the time if the advertising is right and the budget is big enough.”
—Joseph E. Levine (b. 1905)